A new report out of Washington, circa Senator Dianne Feinstein’s website, has announced the co-sponsoring of a new solar bill that aims to make solar far more affordable while simultaneously slashing energy costs for homeowners nationwide.Get A Free Solar Quote Now
Democratic Senator Alex Padilla, representing the state of California, along with Senator Jon Ossoff, a Georgia Democrat, joined Senator Feinstein along with several other Senate colleagues to introduce the Clean Energy for All Homes Act.
The bill’s primary goal is to provide significant aid to homeowners everywhere who want to install solar panel systems on their roofs. The bill also carves out space for other renewable energy tech, with the ultimate mission of cutting energy costs across the board.
A Full Tax Refund Is On The Table
If passed, this new law would provide solar taxpayers with a full tax refund which would offset the installation costs for solar arrays (and other green energy tech). The idea behind this is incentive - the government is looking for ways to incentivize more solar panel installations as solar has proven to reduce greenhouse gas (and carbon emissions). Moving the nation one step closer to clean energy is the ultimate goal, and it is now within reach.
As Senator Feinstein put it, “Clean energy should be affordable for all, not just those who pay enough taxes to receive the credit. By making the credit for solar panel installation refundable to homeowners, we will make residential solar power more accessible for all Americans and do more to combat climate change. This is especially important in California as we lead efforts to develop a more distributed electricity grid – which is both critical to reduce emissions as well as to limit power shutoffs to prevent wildfires.”
Combating climate change is only one benefit to going solar. If you want to slash your energy bills in half (or even more!) going solar is the way to go. With rebates, incentives, and this new potential massive tax credit, zero down options are available to install solar for homeowners around the country.
Senator Padilla and Senator Ossoff Chime In
According to Senator Padilla, “The impacts of the climate crisis are being felt in California and across the country – we must meet this challenge with the urgency it demands. That’s why I’m joining my colleagues in introducing legislation to include a direct-pay option for the renewable energy tax credits that will help millions of Californians install solar panels, grant low- and moderate-income households equitable access to this tax credit, and help us meet President Biden’s goal of a 50 percent reduction of greenhouse gas emissions by 2030.”
Senator Ossoff added, “This bill will make it more affordable for all Americans to install energy efficient technology at home so we can cut pollution and reduce our electric bills.” And that is the Holy Grail for not only our government, but also our people. Saving the planet while saving big on electric costs is a true win-win.
Another less often mentioned benefit of solar is the property value increase it typically provides to homes. On average, case studies have shown that home values jump over 4% after installing solar. When added to the thousands (even tens of thousands) homeowners typically save over the lifetime of their solar systems, it’s no wonder more and more homeowners are choosing to go solar.
Congresswoman Doris Matsui’s Take
On the House of Representatives side, Democratic Congresswoman Doris Matsui, representing the state of California, brought companion legislation to the House floor. Her goal is the same as the Senators: help more homeowners install solar and save big, while also saving the planet.
Congresswoman Matsui was quoted as saying, “Making Section 25D refundable unlocks the opportunity for more than 40 million households to realize the benefits of having solar panels at home – including 3.2 million Black households and 3 million Hispanic households. I am proud to join my Senate colleagues in leading this effort so we can tackle greenhouse gas emissions from homes and promote energy equity in low- and medium-income communities, all while lowering electricity bills.”
With solar costs decreasing by the minute, it has never made more sense to make the switch from fossil fuel energy to solar for homeowners. Most can’t afford NOT to go solar -- why throw money away when you can save so much within months, and for decades to come, by going solar? It truly is a no-brainer to compare local solar installation offers, get your solar panels installed, and start saving big on energy costs every single month.
Lessening The Solar Tax Burden For Homeowners
From jump, Senators Padilla and Feinstein have led the charge to lessen the tax burden on solar homeowners. Just last month, the Senators organized a group to urge government leadership to incorporate a direct pay option for residential renewable energy property tax credits into the tax code.
Earlier in the year, Senators Feinstein and Padilla brought another bill to the floor. This one aimed to amend the Fed’s tax laws, making it so homeowners would not be required to pay income tax when they got rebates from water utilities for water conservation and water runoff management improvements that they have made.
The renewable technology sector is growing exponentially, as more and more homeowners are making the switch to solar and other green tech. The Clean Energy for All Homes Act will hopefully pass, as the bill has many supporters in government, including cosponsors like Senator Cory Booker (D-N.J.), Bernie Sanders (I-Vt.), Tammy Duckworth (D-Ill.), Brian Schatz (D-Hawaii), Michael Bennet (D-Colo.), Elizabeth Warren (D-Mass.), Tina Smith (D-Minn.), Jeff Merkley (D-Ore.), Mazie Hirono (D-Hawaii), Ed Markey (D-Mass.) and Reverend Raphael Warnock (D-Ga.).
Federal tax credits are readily available to all homeowners who decide to go solar. Simply run a comparison analysis of your latest quotes on a trusted solar estimate site like Energy Bill Cruncher, and start saving big on your power bill in the coming months and for decades to come. Going solar is a true win-win move, as any solar homeowner will tell you gladly.Get A Free Solar Quote Now